It's already taxed just like any investment. You have to pay long term and short term capital gains taxes just like with stocks, and the IRS has required all major exchanges to know their customer since 2017-18 and collect SS or drivers license info. It's up to the businesses paying their employees to report this information to the government. What's being discussed is a higher tax rate for crypto gains than compared with normal investments. Still haven't heard about this besides in this thread though.
I was gonna start a thread Sunday morning on this subject. Saw a brief mention on Biden's plans. Republicans are all about the capital gains tax. The party is for the rich. All the culture war topics are to round up voters I would like to see verification on tax rates. I did some googling and the rates looked the same across brackets rather wages or gains
Article on proposal. The highest capital gains tax rate is 20% https://www.foxbusiness.com/politics/biden-capital-gains-tax-hike-wealthy-americans.amp
Things are often taxed multiple times. For example as an importer I could pay a tariff on goods and then also a sales tax when the goods are sold and then income taxes on income generated. Regarding cryptocurrency depending on how the taxes are structures I don't have a problem with it.
